Q4 of 24 Page 247

Understand:

Try to understand what is “commodity money”.


Commodity money is money whose value comes from a commodity of which it is made. Example, if a coin is made of gold , the value of gold(say Rs 100) and the extrinsic value of money say Rs 10), will be known as commodity money, (Rs 110).


More from this chapter

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1

Prepare a chart

Prepare a chart showing Indian currencies and coins.


 2

Discussion:

Discuss with your friends how the system of trading is done without the use of money.


 3

Conduct a Survey:

Conduct a survey in your locality whether exchange took place in the form of barter system.


 5

Project report:

Prepare a project report how consumer and entrepreneurs are performing for development of economy.